Benjamin, a Certified Fraud Examiner CFE, was contacted regarding an engagement to investigate a complex...

The ACFE Code of Professional Ethics requires fraud examiners to continually strive to increase the competence and effectiveness of the professional services performed under their direction. Related professional standards also require due professional care, adequate planning, and competence supported by appropriate education and experience. A complex international money laundering engagement involving multiple jurisdictions and technologies requires more than minimal exposure through a seminar. Accepting such an engagement without sufficient competence and choosing to handle it alone would fall short of the ethical obligation to perform only with proper capability and professional care. The violation does not depend on whether banking regulations were broken or whether Benjamin ultimately found fraud. The problem is accepting and conducting work beyond his demonstrated competence.